THE Cairns property market is already showing signs of recovery, a visiting national industry leader says.

In Cairns to check out Elysian at Trinity Beach, Multiplex Living general manager of sales and marketing for Australia and New Zealand, Phil Leahy, said Far North Queensland had lagged behind the rest of Australia which had growth in property prices and sales in the second half of last year.

Elysian is part of the Bluewater development at Trinity Beach.

However, that growth and optimism seemed to have filtered through to Cairns, with investors, second and third home buyers already chasing property.

"January and early February are traditionally our slower times as people are on holidays, then get kids back to school," Mr Leahy said.

"In a complete turnaround from previous years, we’re already enjoying high levels of inquiry among genuine potential buyers for our premium Elysian rainforest land.

"That’s a fantastic sign because upmarket property has been the slowest to move in Cairns in recent years.

"The interest in Elysian shows we are at the end of one cycle and starting a new one, which is typical of the industry locally and further afield."

Mr Leahy said the property industry nationally was emerging from one of its most difficult periods in decades.

Buyers, he said, had lost confidence in buying because of the global economic slowdown.

"Entire buyer groups like investors have held on to their money while they ride out the tougher economic climate and that’s impacted enormously on sale prices and overall sales numbers," he said.

"As soon as there were signs of the global economic recovery though, we began to see the other states bouncing back and those buyers re-entering the market, particularly in Western Australia, and other parts of Queensland.

"I’m delighted to say that in recent weeks we’ve seen a similar improvement in Cairns, and based on our experience elsewhere, the bounce back will gain momentum from here on.

"If you consider this time last year, virtually the only people in the market were first home buyers seeking lower-priced property.

"Now we’re getting daily inquiry from all types of buyers actively seeking property."

The company has other apartment and land developments under way in southeast Queensland, New South Wales, Western Australia and New Zealand.

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